ShopUp, one of the leading B2B commerce platforms in Bangladesh, raised $6.5 million in debt capital funding from Saison Investment Management Private Limited (SIMPL), a credit venture arm of Japan’s Credit Saison.
This strategic investment is a first for SIMPL in Bangladesh, signaling confidence in ShopUp’s ability to drive economic growth and financial inclusion in the country, said a press release.
ShopUp is doubling down as a fully local supply chain through technology, connecting mills and markets, and streamlining distribution operations for suppliers and retailers, the statement added.
By embedding financial solutions within its platform, ShopUp simplifies transactions, allowing businesses to grow efficiently without the complexity of traditional financing methods.
The capital injection will empower retailers within the ShopUp ecosystem to expand their offerings and scale up their operations, driving overall business growth.
Afeef Zaman, founder and CEO of ShopUp, said, “Our vision of reaching 8 crore people becomes more important than ever before.”
“We are determined to bring transparency to the food and consumer goods value chain, impacting the lives of millions who spend more than 50% of their income on these essentials,” he added.
Credit Saison is a prominent Japanese financial services company, recognised as the third-largest credit card issuer in Japan with over 20 million cardholders.
The B2B platform is known for its diverse lending solutions in consumer, corporate, and MSME finance.
In addition to Japan, Credit Saison has expanded its operations in emerging markets such as Brazil, India, Indonesia, Mexico, Thailand, and Vietnam, leveraging local data infrastructure and diverse lending models.